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The Bitcoin (BTC) thread
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Prince Charming Offline
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Post: #8076
RE: The Bitcoin (BTC) thread
What is the current best way to store some btc for 10.. 20+ years
I feel like all our devices have planned obsolescence that could destroy the wallet.
06-19-2019 12:22 AM
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JayJuanGee Offline
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Post: #8077
RE: The Bitcoin (BTC) thread
(06-18-2019 11:59 PM)Enhanced Eddie Wrote:  The guys from World Crypto Network predicted 4 days ago that it'll cross the 9k line... and that the dragonball memes are going to get spammed everywhere which will then push it above 10k.

This is one of the few crypto channels I still follow... along with Antonopoulos (even though he doesn't speculate much, he mostly talks about the technology and political implications, which are more important anyway IMO.





There are a lot of good podcasts out there, including ones that are listed in my post from a few days ago.

(06-16-2019 01:09 AM)JayJuanGee Wrote:  Here's a link to some good bitcoin resources.. .

https://dergigi.com/bitcoin/resources/

Over the years, I have continued to add to the list of bitcoin related podcasts that I listen to, and sometimes, I am surprised about how many podcasts come out including recent difficulties keeping up..... including that I added several of the podcasts from the dergigi website.. and finding that they are pretty good (almost too good.. and taking up too much of my time to listen to some of the backlog that are in the feeds).

More and more smart people out there in bitcoinlandia, and some of them have only been recently exposed to bitcoin but seem to understand the sound money aspects of bitcoin... Seems bullish, but who knows for sure until our next 10x to 30x happens (assuming that it will at some point in the near future..... Banana)
06-19-2019 12:26 AM
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Post: #8078
RE: The Bitcoin (BTC) thread
(06-19-2019 12:22 AM)Prince Charming Wrote:  What is the current best way to store some btc for 10.. 20+ years
I feel like all our devices have planned obsolescence that could destroy the wallet.

I know that you want to set it and forget it, but likely, you should attempt to be a bit more active in securing your own bitcoin, in the event that you acquire a stash.

I like the Trezor for longer term storage, but of course, there may come a time in the coming years that you might have to move over to some other device or way of accessing your coins.

By the way, Trezor follows the BIP 39 seed phrase protocol that is present in a lot of wallets, so if you store your private keys in the trezor, you have the BIP 39 12 or 24 seed phrase as a back up... so maybe in a few years you would want to test them out or move to another device.. but if your trezor no longer works, you can upload your 12 or 24 seed words into any device that allows for that ... which tends to be a decent number of storage methods that utilize the BIP39 seed phrase protocol.

What were you thinking about doing? were you thinking about just storing them away for 10-20 years without any kind of interaction?
06-19-2019 12:33 AM
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Prince Charming Offline
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Post: #8079
RE: The Bitcoin (BTC) thread
(06-19-2019 12:33 AM)JayJuanGee Wrote:  What were you thinking about doing? were you thinking about just storing them away for 10-20 years without any kind of interaction?
ideally yes. So if I get a trezzor and it breaks I could still access the btc down the line?
Do you have a specific product to recommended?
06-19-2019 03:00 AM
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Post: #8080
RE: The Bitcoin (BTC) thread
(06-15-2019 10:01 PM)JayJuanGee Wrote:  
(06-15-2019 09:22 PM)JackinMelbourne Wrote:  
(06-11-2019 04:49 PM)JayJuanGee Wrote:  Here's a neat little tweet thread that touches upon some bitcoin predecessors that created some foundational principles for bitcoin.

https://twitter.com/bitrawr/status/1135130717724250113

[Image: ?u=https%3A%2F%2Fi.imgur.com%2FfYKB8hv.p...wDs4w9I8QA]

Is hashcash, bitgold and bitmoney still around?

The idea that these predecessors came and went is the #1 thing that worries me about BTC itself and whether it is possible it'll be dropped and replaced when TPTB decide it's time to harvest the holders and restart the cycle again in a different guise...

It seems unlikely in the sort term, but entirely possible if you factor in what we've seen play out in the past.


Why don't you research into the matter regarding how bitcoin is different from it's predecessors and how bitcoin built upon its predecessors to cause a paradigm change that had never been experienced previously?

It is quite likely that most paradigm shifting inventions are built upon the efforts and work of the past, but they differentiate themselves from the work of the past by solving a problem that had not previously been within the realm of consciousness to solve.

In other words, you admit that you have no clue about whether any of the predecessors still exist, but at the same time, you presume that they were shut down and they were part of a pattern.

You can do better than that in your non-substantiated and speculative FUD spreading, no?

Obviously, you are hesitant about bitcoin, and likely you cannot appreciate its recent price rises either, correct? I find it quite interesting that bitcoin has experienced well over a 100% price appreciation in the past 10 weeks when it broke above $4,200 on April 1 - never to go back down to revisit that price arena (at least so far), yet there are still going to be some folks who strive only to be scared of bitcoin.. so in that regard, there are going to be some guys who are planning and investing in bitcoin (and becoming quite rich and empowered in various manners long the way), and other guys who hesitate to either create an investment plan or attempt to carry out a reasonable BTC investment plan that involves accumulation of BTC - rather than sitting on the sidelines or spouting out nonsubstantiated negative speculations.

In other words, it is quite likely that bitcoin is going to experience decently great investment returns in the coming years, and even if you believe that it might be too late or that bitcoin has already had its price appreciation for the year, you are likely going to miss out... with you ongoing and seemingly willful refusal to recognize various ways that bitcoin retains considerable upside in price potential (and otherwise with various empowering use cases, too).

You really don't need to convince me or get butt-hurt about the fear of BTC crashing in cycles like every single other thing in this world. Everything gets pumped and crashes!

I'm simply keen to know the indicators for when the next crash is likely, just like it would have been nice to know when that last one was coming back in 17. What caused it again? A bit of fud, a hack? A whale dump? Oh yeah, it was that exchange going under. Strange reacts either way.

Once again, you've got to stop getting too butt hurt when someone comes in with questions and a bit of realism. I'm not anti BTC like you're implying. The post you quoted me on was simply implying that BTC is not immune to being built upon like those previous technologies. It's inevitable even. We just don't know when or how the transition will affect it. Luckily it still hasn't come close to running it's course but that won't stop my curiosity...

For entertainment and educational use only, your m8 Jackin'
(This post was last modified: 06-19-2019 03:42 AM by JackinMelbourne.)
06-19-2019 03:26 AM
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JackinMelbourne Away
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Post: #8081
RE: The Bitcoin (BTC) thread
(06-19-2019 12:22 AM)Prince Charming Wrote:  What is the current best way to store some btc for 10.. 20+ years
I feel like all our devices have planned obsolescence that could destroy the wallet.

You can also check out the Ledger Nano S but be warned that they're always updating and changing apps and extensions. It's actually a little annoying long term since if you rarely use it, any time you want to send funds quickly out of the blue you've got to jump through hoops updating shit and even making sure you have the latest version of windows etc (I was using an XP machine at one point and the Nano S was unusable).

Another way to store VERY long term is the laminated paper method... (paper wallet).

For entertainment and educational use only, your m8 Jackin'
06-19-2019 03:30 AM
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redbeard Offline
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Post: #8082
RE: The Bitcoin (BTC) thread
Please do not use paper wallets.

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06-19-2019 07:47 AM
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JayJuanGee Offline
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Post: #8083
RE: The Bitcoin (BTC) thread
(06-19-2019 03:00 AM)Prince Charming Wrote:  
(06-19-2019 12:33 AM)JayJuanGee Wrote:  What were you thinking about doing? were you thinking about just storing them away for 10-20 years without any kind of interaction?
ideally yes. So if I get a trezzor and it breaks I could still access the btc down the line?
Do you have a specific product to recommended?

In recent years, people have been hesitant to get their hardware devices through any third parties, so in that regard it may be better to go through the authorized resellers that are listed on the trezor website.

https://trezor.io/resellers/

Of course, if you go through a non authorized dealer , you run a greater risk of tampering - which is a non-zero probability that you might not know for many years down the road...

I believe that most of the cases of tampering were obvious, such as buying a preloaded device - which seems retarded, even though it is understandable why some users might not realize the better practice is to set the device up yourself (which is pretty straight forward).

Regarding your ability to recover your wallet from anywhere, I do believe that the BIP39 seed word protocol will be around for many years, likely 20 years or more, but this industry is quite nascent, so in that regard, it will likely continue to be a good practice to check in on your coins on at least a yearly basis, and how you do that is likely going to vary from guy to guy.

Even though I may be repeating myself a bit, I do understand the inclination that guys might have to get into an investment and to just let the investment sit, I do think that it would be good to invest a little bit of time, through the years, even if you hold onto your bitcoin investment for 10-20 years, to not only check in on the accessibility of your coins, but also to, perhaps, do a little overview of the bitcoin scene on a regular basis, to attempt to verify what kinds of changes and trends might be going on in the scene and whether any of the changes or trends might motivate you to rethink any aspect of your initial investment plan beyond the mere location and way that you hold your own private keys.
06-19-2019 09:13 AM
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JayJuanGee Offline
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Post: #8084
RE: The Bitcoin (BTC) thread
(06-19-2019 03:26 AM)JackinMelbourne Wrote:  
(06-15-2019 10:01 PM)JayJuanGee Wrote:  
(06-15-2019 09:22 PM)JackinMelbourne Wrote:  
(06-11-2019 04:49 PM)JayJuanGee Wrote:  Here's a neat little tweet thread that touches upon some bitcoin predecessors that created some foundational principles for bitcoin.

https://twitter.com/bitrawr/status/1135130717724250113

[Image: ?u=https%3A%2F%2Fi.imgur.com%2FfYKB8hv.p...wDs4w9I8QA]

Is hashcash, bitgold and bitmoney still around?

The idea that these predecessors came and went is the #1 thing that worries me about BTC itself and whether it is possible it'll be dropped and replaced when TPTB decide it's time to harvest the holders and restart the cycle again in a different guise...

It seems unlikely in the sort term, but entirely possible if you factor in what we've seen play out in the past.


Why don't you research into the matter regarding how bitcoin is different from it's predecessors and how bitcoin built upon its predecessors to cause a paradigm change that had never been experienced previously?

It is quite likely that most paradigm shifting inventions are built upon the efforts and work of the past, but they differentiate themselves from the work of the past by solving a problem that had not previously been within the realm of consciousness to solve.

In other words, you admit that you have no clue about whether any of the predecessors still exist, but at the same time, you presume that they were shut down and they were part of a pattern.

You can do better than that in your non-substantiated and speculative FUD spreading, no?

Obviously, you are hesitant about bitcoin, and likely you cannot appreciate its recent price rises either, correct? I find it quite interesting that bitcoin has experienced well over a 100% price appreciation in the past 10 weeks when it broke above $4,200 on April 1 - never to go back down to revisit that price arena (at least so far), yet there are still going to be some folks who strive only to be scared of bitcoin.. so in that regard, there are going to be some guys who are planning and investing in bitcoin (and becoming quite rich and empowered in various manners long the way), and other guys who hesitate to either create an investment plan or attempt to carry out a reasonable BTC investment plan that involves accumulation of BTC - rather than sitting on the sidelines or spouting out nonsubstantiated negative speculations.

In other words, it is quite likely that bitcoin is going to experience decently great investment returns in the coming years, and even if you believe that it might be too late or that bitcoin has already had its price appreciation for the year, you are likely going to miss out... with you ongoing and seemingly willful refusal to recognize various ways that bitcoin retains considerable upside in price potential (and otherwise with various empowering use cases, too).

You really don't need to convince me or get butt-hurt about the fear of BTC crashing in cycles like every single other thing in this world. Everything gets pumped and crashes!

Huh? You seem to be misunderstanding my response.

You are posting on a quasi-public thread and spouting out nonsense and misinformation about bitcoin.. so I am at least attempting to off-set some of your phoney baloney misleading assertions.

I don't know how you could reasonably conclude that I am either in fear or butt hurt because my investment into bitcoin has been considerably profitable for me. My bitcoin investment is performing amongst the better case scenarios that I could have imagined when I started, and even with the passage of time, I am not disappointed to have an investment that has in the ballpark of a 10x equity cushion that allows me to be much more relaxed than I might have been if the equity cushion were not so great.


(06-19-2019 03:26 AM)JackinMelbourne Wrote:  I'm simply keen to know the indicators for when the next crash is likely, just like it would have been nice to know when that last one was coming back in 17.

No one really knows for sure because there are a variety of factors that affect the future and bitcoin's price performance in the future. If you are trying to narrow your assessment down to some few factors, then you might also be failing and refusing to recognize various fundamental aspects of bitcoin, including its sound money contribution that is not emulated by any other asset in the world, currently.

Of course, if bitcoin keeps developing like it is and stays more or less on its path, there should be little reason to doubt that it is going to continue to have boom and bust cycles, and in the coming couple of years there are good chances that we are going to continue to experience a kind of boom cycle....

No one is really going to know the top in this particular cycle, including if we already reached it, or if the top is going to be $15k, $25k, $50k, $100k, $250k or some other number.

If you are investing into bitcoin, you should attempt to prepare yourself psychologically and financially for a variety of scenarios that might play out.. of course, with an ongoing decent odds of various upside price movements, too (that are far from guaranteed).

(06-19-2019 03:26 AM)JackinMelbourne Wrote:  What caused it again?

A variety of factors that are likely too numerous to list here, including that there might be knows, such as momentum, halvening, development, financialization, adoption, various network effects, etc, and there might be some unknowns too.

(06-19-2019 03:26 AM)JackinMelbourne Wrote:  A bit of fud, a hack? A whale dump? Oh yeah, it was that exchange going under. Strange reacts either way.

Yes. Those things tend to happen at the same time, and there is little doubt that various kinds of negative events are going to happen in the coming years that may or may not negatively affect BTC's price.

(06-19-2019 03:26 AM)JackinMelbourne Wrote:  Once again, you've got to stop getting too butt hurt when someone comes in with questions and a bit of realism.

You are projecting your claims of my supposed "butt-hurtness." So far, I have seen little "realism" from you, but sure if you have questions and you want to genuinely engage on the topic of bitcoin, then I doubt that any of us here, including myself, have any problems with genuine attempts to share information about bitcoin, whether negative, neutral or positive information.

If you come off as merely attempting to stir shit or to screw with guys by spreading various kinds of mainstream misinformation or bitcoin naysayer talking points, then that could become a bit aggravating and could be part of the cause that you are perceiving yourself or your allegedly "good" ideas as being under attack.

(06-19-2019 03:26 AM)JackinMelbourne Wrote:  I'm not anti BTC like you're implying.

That's good, but I doubt that it matters if you are anti-bitcoin as long as you are genuinely attempting to back up whatever points that you want to make, whether "anti-" or otherwise.. as long as they are somewhat topical.


(06-19-2019 03:26 AM)JackinMelbourne Wrote:  The post you quoted me on was simply implying that BTC is not immune to being built upon like those previous technologies. It's inevitable even. We just don't know when or how the transition will affect it. Luckily it still hasn't come close to running it's course but that won't stop my curiosity...

It's fair enough for you to assert that there are a lot of uncertainties in bitcoin, and likely part of my problem with some of your previous assertions was that you seemed to have been implying that you knew the direction of bitcoin by making some comparisons that were likely NOT as analogous as you were making them out to be. We don't necessarily need to revisit old arguments in order to discuss issues that you believe are present, and you want to argue, I suppose, that bitcoin does not likely have as great of an upside potential as bitcoin supporters (such as myself) are projecting it to have? There is nothing wrong with presenting those kinds of arguments as long as you don't come off as a pompous ass that wants to suggest that you know the future more than other guys.
06-19-2019 09:40 AM
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JayJuanGee Offline
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Post: #8085
RE: The Bitcoin (BTC) thread
(06-19-2019 03:30 AM)JackinMelbourne Wrote:  
(06-19-2019 12:22 AM)Prince Charming Wrote:  What is the current best way to store some btc for 10.. 20+ years
I feel like all our devices have planned obsolescence that could destroy the wallet.

You can also check out the Ledger Nano S but be warned that they're always updating and changing apps and extensions. It's actually a little annoying long term since if you rarely use it, any time you want to send funds quickly out of the blue you've got to jump through hoops updating shit and even making sure you have the latest version of windows etc (I was using an XP machine at one point and the Nano S was unusable).

Another way to store VERY long term is the laminated paper method... (paper wallet).

I have tried the Ledger Nano S, too, and I have had similar kinds of user experiences that have been quite frustrating for me, too, including just cumbersome loading and slowness and weirdness. I have heard many people proclaim that Ledger Nano S has been improving their systems, yet seems to me that Trezor has not been experiencing those kinds of issues, so far.

I agree with redbeard about not using paper wallets. There are some folks who swear by them, but they have their issues, too, and they seem to be a bit old-school in terms of ways that they could be damaged, useability issues and recovery issues. Much easier to use and manage something like the trezor and once you go through the initial set up, it might become a bit fun (or tempting) to want to look up your balance on a more regular basis - because of the ease of use and the fun to see how your wealth (contained therein) changes over time (hopefully going to continue to happen upwardly).
06-19-2019 09:49 AM
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zoom Offline
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Post: #8086
RE: The Bitcoin (BTC) thread
I have used both Trezor and Ledger Nano S and I prefer the Ledger.

The Ledger Nano S takes time to get used to but I like the interface.
06-19-2019 10:13 AM
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JayJuanGee Offline
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Post: #8087
RE: The Bitcoin (BTC) thread
(06-19-2019 10:13 AM)zoom Wrote:  I have used both Trezor and Ledger Nano S and I prefer the Ledger.

The Ledger Nano S takes time to get used to but I like the interface.

As far as I know, both the Trezor and the Ledger Nano S are the same in terms of using the BIP39 recovery seed protocol, so in that regard, if you have an issue with either of them in terms of technical abilities to access your coins, either of them can be recovered to another device or even across platforms in order to return access to our coins.
06-19-2019 10:19 AM
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JayJuanGee Offline
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Post: #8088
RE: The Bitcoin (BTC) thread
Peter Brandt makes some interesting comparisons between bitcoin and his other investments in his tweet (linked below)

https://twitter.com/PeterLBrandt/status/...6910035969

[Image: ?u=https%3A%2F%2Fi.imgur.com%2Fv97Ba36.p...jh6tqlvRwA]
06-19-2019 12:49 PM
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Post: #8089
RE: The Bitcoin (BTC) thread
https://twitter.com/evanmthomas/status/1...2467001344

Quadrigacx CEO and possibly others were margin trading public funds on other platforms and lost over 80m in less than 3 years. Cotton bought up BTC and other cryptos with Quadriga bucks and sent them to difference exchanges under his name and other aliases. Fraud looks established and there's been a preservation order on the wifes' assets worth 12m.

BTC price 9762 USD as I write this. Hopefully it cracks 10k.
06-20-2019 09:27 PM
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Post: #8090
RE: The Bitcoin (BTC) thread
I was tempted to leverage short the 9400 level- glad I didn't.
06-20-2019 09:58 PM
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JayJuanGee Offline
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Post: #8091
RE: The Bitcoin (BTC) thread
(06-20-2019 09:58 PM)fiasco360 Wrote:  I was tempted to leverage short the 9400 level- glad I didn't.

Yep. Risky to short or sell, and even more risky to make such an attempt using leverage.
06-20-2019 10:07 PM
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randomA Offline
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Post: #8092
RE: The Bitcoin (BTC) thread
I am so baffled by this parabola not having had any retrace whatsoever yet.
even the last bullrun had some correction here and there along the way, and yet i wasnt in crypto yet.
this is ridiculous, and i'm going to miss this bullrun as well considering that i have been sitting in fiat all this while. yikes.
06-20-2019 11:14 PM
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Post: #8093
RE: The Bitcoin (BTC) thread
(06-20-2019 11:14 PM)randomA Wrote:  I am so baffled by this parabola not having had any retrace whatsoever yet.
even the last bullrun had some correction here and there along the way, and yet i wasnt in crypto yet.
this is ridiculous, and i'm going to miss this bullrun as well considering that i have been sitting in fiat all this while. yikes.

I will admit that I am a little bit confused about the whole situation, too, but also, it is not unlike bitcoin to perform beyond expectations.

Actually, I thought that earlier in the bullrun... let's say from about $4,200 to about $8k, it had appeared to me that margin shorts on bitfinex and bitmex were out numbering margin longs, so in that regard, I thought that the bets for down were partially contributing to the fueling of BTC's ongoing upward price movement.

A confusing part for me is that it seems that recent data is showing that margin longs are starting to outnumber margin shorts, so therefore, I started to think that BTC's upwards price movement is going to have to start to come to an end at some point in order to resolve some of that imbalance on the margin books.

My only other explanation just is that markets remain irrational longer than you can expect or longer than your pocketbook can tolerate, and surely bitcoin is not anywhere near a mature market, so there is an ongoing dynamic that causes parabolic s-curve upwards movement that could be motivating this move, and thereby some psychological justifications that BTC's price has already been here and it is merely going up in order to retrace ground in which it had already been.

One final point should be clear that any of us who know anything about bitcoin should not be betting 100% on down.. so we should have some preparations for UP.. but I am repeating what I always say in that regard that all of us should always have some preparation both psychologically and financially for BTC price moves in either direction.
06-21-2019 12:05 AM
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Post: #8094
RE: The Bitcoin (BTC) thread
(06-20-2019 11:14 PM)randomA Wrote:  I am so baffled by this parabola not having had any retrace whatsoever yet.
even the last bullrun had some correction here and there along the way, and yet i wasnt in crypto yet.
this is ridiculous, and i'm going to miss this bullrun as well considering that i have been sitting in fiat all this while. yikes.

Your entire view is warped.

You think that technical analysis, charts, etc. "mean" something.

They don't. Charts and technical analysis are an absolute, complete, and utter waste of time. It's so funny to me how many people just seem unable to accept this simple fact.

Bitcoin
Charts
Are
Worthless

Hello guys. Read it again. WORTHLESS. MEANINGLESS. No, you aren't a genius who is the one and only exception. Nope. Get over yourself.

Just buy the fucking bitcoin and shut the fuck up. Or don't buy and become a nobody who gets crushed by the coming chaos. Whatever. Stop trying to time the market. You can't so stop trying to.

If it goes up to 200k, which it will, it doesn't matter if you got it at 8k or 10k.

If you ignore this advice, which comes from a guy with a zillion years of investing experience, then go fucking commit suicide, and improve the quality of the gene pool.
(This post was last modified: 06-21-2019 11:29 AM by MrLemon.)
06-21-2019 11:27 AM
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Post: #8095
RE: The Bitcoin (BTC) thread
(06-21-2019 11:27 AM)MrLemon Wrote:  
(06-20-2019 11:14 PM)randomA Wrote:  I am so baffled by this parabola not having had any retrace whatsoever yet.
even the last bullrun had some correction here and there along the way, and yet i wasnt in crypto yet.
this is ridiculous, and i'm going to miss this bullrun as well considering that i have been sitting in fiat all this while. yikes.

Your entire view is warped.

You think that technical analysis, charts, etc. "mean" something.

They don't. Charts and technical analysis are an absolute, complete, and utter waste of time. It's so funny to me how many people just seem unable to accept this simple fact.

Bitcoin
Charts
Are
Worthless

Hello guys. Read it again. WORTHLESS. MEANINGLESS. No, you aren't a genius who is the one and only exception. Nope. Get over yourself.

Just buy the fucking bitcoin and shut the fuck up. Or don't buy and become a nobody who gets crushed by the coming chaos. Whatever. Stop trying to time the market. You can't so stop trying to.

If it goes up to 200k, which it will, it doesn't matter if you got it at 8k or 10k.

If you ignore this advice, which comes from a guy with a zillion years of investing experience, then go fucking commit suicide, and improve the quality of the gene pool.

I wish there was a way to mute all TA from cryptotwitter. This year it was all short short short, going to 1k, etc. Idiots!

Almost at 10k bros. Cheers!
06-21-2019 11:50 AM
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MrLemon
Enhanced Eddie Offline
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Post: #8096
RE: The Bitcoin (BTC) thread
If TA worked, these people should be billionaires. I think TA is pretty good in predicting market sentiment based on past and current trends, but these aren't the only factors that impact price. During the last bull run, we saw the biggest price movements always based on something Korea did or didn't do... that doesn't show up in any TA. Also random moves by whales.... same story. If the biggest impacts on the market don't show up in TA, how valuable is it really?
06-21-2019 12:06 PM
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Post: #8097
RE: The Bitcoin (BTC) thread
(06-21-2019 11:27 AM)MrLemon Wrote:  Hello guys. Read it again. WORTHLESS. MEANINGLESS. No, you aren't a genius who is the one and only exception. Nope. Get over yourself.

Hahahahahaha

I believe I get your point, but I think that you are exaggerating a bit.

I agree with you to the extent that charts might tend to over emphasize the assignment of probabilities to one direction or another, and so those kinds of projections and parroting of expectations based on those unrealistic probability assignments irritate me, too.

(06-21-2019 11:27 AM)MrLemon Wrote:  Just buy the fucking bitcoin and shut the fuck up. Or don't buy and become a nobody who gets crushed by the coming chaos. Whatever. Stop trying to time the market. You can't so stop trying to.

I agree that 1) you cannot exactly time the market, 2) accumulation of BTC should be a primary goal, and 3) you should not be trying to accumulate BTC by selling BTC or shorting it, except to the extent that you are doing it in very low proportions to the BTC that you have already accumulated. Guys are going to differ on these kinds of ideas and falsely believe that they can beat the market, and that is why a vast majority of traders get r3ckt.... they bet too much BTC and too often and lose focus.. so the safer approach is just to buy and buy on dips.. but you are really not going to change the inclinations of guys to want to gamble... even if you yell at them... hahahahahahaha

(06-21-2019 11:27 AM)MrLemon Wrote:  If it goes up to 200k, which it will, it doesn't matter if you got it at 8k or 10k.

That is true and something to really make sure that every guy adds to the weight of the various factors that he is considering... which ends up justifying ongoing accumulation of at least a small portion of your value in bitcoin and attempting to maintain (or not go below a certain allocation percentage of an amount that is determined by each guy based on his individual circumstances).

(06-21-2019 11:27 AM)MrLemon Wrote:  If you ignore this advice, which comes from a guy with a zillion years of investing experience, then go fucking commit suicide, and improve the quality of the gene pool.

You are largely correct, but jeez. Laugh
06-21-2019 01:28 PM
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Post: #8098
RE: The Bitcoin (BTC) thread
(06-21-2019 11:50 AM)Swordfish1010 Wrote:  
(06-21-2019 11:27 AM)MrLemon Wrote:  
(06-20-2019 11:14 PM)randomA Wrote:  I am so baffled by this parabola not having had any retrace whatsoever yet.
even the last bullrun had some correction here and there along the way, and yet i wasnt in crypto yet.
this is ridiculous, and i'm going to miss this bullrun as well considering that i have been sitting in fiat all this while. yikes.

Your entire view is warped.

You think that technical analysis, charts, etc. "mean" something.

They don't. Charts and technical analysis are an absolute, complete, and utter waste of time. It's so funny to me how many people just seem unable to accept this simple fact.

Bitcoin
Charts
Are
Worthless

Hello guys. Read it again. WORTHLESS. MEANINGLESS. No, you aren't a genius who is the one and only exception. Nope. Get over yourself.

Just buy the fucking bitcoin and shut the fuck up. Or don't buy and become a nobody who gets crushed by the coming chaos. Whatever. Stop trying to time the market. You can't so stop trying to.

If it goes up to 200k, which it will, it doesn't matter if you got it at 8k or 10k.

If you ignore this advice, which comes from a guy with a zillion years of investing experience, then go fucking commit suicide, and improve the quality of the gene pool.

I wish there was a way to mute all TA from cryptotwitter. This year it was all short short short, going to 1k, etc. Idiots!

Almost at 10k bros. Cheers!

Those tools and resources help to attract a decent amount of dumb money, which does seem to bring value to both the HODLers and the persons who are able to stay focused on hanging onto their bitcoins and prudent and practical ways to continue to accumulate bitcoins.

Surely, there is still a lot less than 1% of the total world population that has any kind of meaningful investment into bitcoin, so there is going to continue to be a lot of dumb money coming into the bitcoin space and providing a lot of fuel for scammers, distractors, snake oil imitations, etc.

I understand some of the frustration that is based on a decently large number of people getting attracted and distracted by "other crypto ways" to make money and to "beat the market" including thoughts that bitcoin is over priced based on unit value and erroneous perceptions that they have "missed the boat," but how do you really get around that kind of deception of the masses (Pareto principle - 80/20 dynamics)? It's kind of the way of the world, and when we recognize and figure out ways to ensure that we are likely part of the 20% rather than part of the 80%, then seems that we have to engage in a certain amount of acceptance that the 80% are going to do what they are going to do and we cannot really do much about it, except to continue to figure out ways to protect ourselves from getting distracted into such false temptations to join their nonsense.
06-21-2019 01:39 PM
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Post: #8099
RE: The Bitcoin (BTC) thread
(06-21-2019 12:06 PM)Enhanced Eddie Wrote:  If TA worked, these people should be billionaires. I think TA is pretty good in predicting market sentiment based on past and current trends, but these aren't the only factors that impact price. During the last bull run, we saw the biggest price movements always based on something Korea did or didn't do... that doesn't show up in any TA. Also random moves by whales.... same story. If the biggest impacts on the market don't show up in TA, how valuable is it really?

Exactly.. TA seems to be a "taking it with a grain of salt" consideration, rather than something that you would rule out completely as being any kind of consideration.
06-21-2019 01:42 PM
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JayJuanGee Offline
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Post: #8100
RE: The Bitcoin (BTC) thread
Frequently matters can seem quite weird in bitcoinlandia.

I find it a bit strange that Bitmain is attempting another IPO (in the USA this time) after what had seemed like an earlier failed attempt in Hong Kong.

Will they be able to trick USA investors into believing that they have a lucratively investable product.. that does NOT necessarily amount to a smoke and mirrors bail out?

https://cointelegraph.com/news/bitmain-s...n-optimism

Let's see how these matters play out.
06-21-2019 03:52 PM
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